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Seven Social Security Sins
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- Published on Saturday, 28 April 2012 10:31
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Seven Social Security Sins
Since the first payment was made in January 1937, Social Security has provided a safety net and source of reliable income for retired workers, their spouses and dependents. But getting the most from your Social Security benefits is not always a simple matter of filing as soon as you're eligible.
While you can begin collecting Social Security as young as age 62, your benefits will
When to start tapping Social Security
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- Published on Wednesday, 07 March 2012 13:37
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When to start tapping Social Security
By Lynn Brenner
(Reuters) - Unless you're exceptionally wealthy, your biggest financial risk in retirement is outliving your money. Experts agree the best defense is your Social Security benefit - a stream of inflation-adjusted, government-backed income that lasts as long as you do and continues for your spouse's lifetime after you die.
"No other financial vehicle can match that combination," says James Mahaney, vice president of Prudential Financial.
But 72 percent of retirees lock in a lifetime of smaller benefits because
Step by Step How to Pay Down Credit Card Debt
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- Published on Saturday, 21 April 2012 13:00
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How to pay down card debt step by step:
Ever since the Credit CARD Act began requiring statements to carry better disclosures about how much card debt really costs, people have become a lot more motivated about paying off their cards.
Many consumers were startled to find out how little the minimum payment shaves off their balances. One who owes $9,600 on a card with an 18.99 percent interest rate discovered that if only the minimum is paid, it would take 26 years (and cost an extra $14,256 in interest) to pay off her card.
So if you're feeling a little overwhelmed, you're not alone.
Take another look at that disclosure box on your statement, though. In addition to the grim news, it also shows
Is using credit reports to screen job applicants fair?
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- Published on Tuesday, 06 March 2012 11:55
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Is using credit reports to screen job applicants fair?
About four years ago, hiring managers began asking recruiter Chris Ball to start screening prospective employees in a new way: "They'd call up and say, 'Don't send us anyone with a bankruptcy in the past five years,' " says Ball, operations manager for the Jackson, Miss., branch of Express Employment Professionals.
Those hiring managers were on the forefront of a practice that worries some state lawmakers: employers making hiring decisions based, in part, on applicants' credit scores.
Seven states --California,Connecticut,Hawaii,Illinois,Maryland,OregonandWashington-- have recently restricted the practice, according to the National Conference of State Legislatures, and now,Colorado lawmakers are considering a similar measure. The laws generally contain exemptions for
Read more: Is using credit reports to screen job applicants fair?